The Bank of America Plaza has been sold in what’s called Florida’s largest office building sale since 2012. The seller of the Tampa Commercial Property was MetLife Inc. and this Bank of America Plaza, the tallest building in Tampa. The Property address is 101 E Kennedy Blvd, Tampa, Florida with the 33602 Zip Code. Downtown Tampa does have a very impressive growth rate as it continues to draw new residents from the Northern Communities of America. This type of growth makes investing in Tampa Commercial Properties much more attractive.
JV (Joint Venture) Purchase of Florida Commercial Property
The Bank of America Plaza is approximately 787,042 square-feet, which helped it become the tallest building in Tampa Bay. The Commercial Property buyer was a JV (Joint Venture). The joint venture was a combination of Miami based Banyan Street Capital as well as the Los Angeles based Oaktree Capital Management. This landmark office building is estimated to be 176-foot, and 42 stories high. This Office Building is approximately 8 miles from the Tampa International Airport.
Downtown Tampa Listing Sold
The Bank of America Plaza was constructed in 1986 as it sits on a 0.96 acre property site. This is the Tampa Bay’s central business district as this area has about 90 percent of Tampa’s downtown amenities within a two block radius. This Property is a fantastic looking building and really does become noticeable as an impressive piece of Florida architecture. These types of Tampa Commercial Properties normally have lease structures which can substantially improve the Investor’s bottom line.
Commercial Property Transaction in Tampa
This office structure was made to link to an adjacent 1,263 space, 14 story parking structure through the usage of a skybridge. This type of ingenuity helps to provide the Office tower with a higher parking ratio to help make it easier to lease space. This Commercial Property has easy access to Interstate 275, Florida State Route 60, North Florida Ave. as well as the Selmon Expressway. Tampa International Airport is also just seven miles away from the building.
The parties involved have not disclosed the price as of yet. Some Commercial Real Estate specialists suggest that this deal was for about $195 million. This would make it the biggest Commercial Property transaction in Tampa’s history if that number is correct.
Anchor Tenants with Florida Lease Agreements
This location also offers the U.S. Trust Office which is providing Wealth Management Services. This U.S. Trust Office provides a wide range of services designed to meet your specific financial needs, regardless of complexity or size of your portfolio.
The Tampa Hillsborough Economic Development Corporation is situated in this Tampa Office Building Listing which sold. The Tampa Hillsborough EDC mentions that they are the lead economic development agency for Hillsborough County and the cities of Tampa, Plant City, as well as Temple Terrace.